Multiple Choice
Which statement describes how consumer demand differs from consumer wants?
A) Demand is only for necessities, but wants are for luxuries.
B) Demand is only for luxuries, but wants are for necessities.
C) Demand takes into account the ability to pay, but wants do NOT take this into account.
D) Demand takes into account benefits received, but wants do NOT take this into account.
Correct Answer:

Verified
Correct Answer:
Verified
Q118: Suppose the market for beef cattle was
Q119: For which of the following would the
Q120: If the supply of a product increases,
Q121: When would suppliers recognize there is a
Q122: In the case of a normal good,
Q124: What is the effect of an increase
Q125: Suppose demand increases and supply decreases.What will
Q126: The arrival of Michael Jordan, Larry Bird,
Q127: Which of the following statements about markets
Q128: Suppose demand for personal computers increases as